Academic Weakness Unexpectedly Hits Thermo Fisher's (TMO) Q3; FY11 Guidance Revised Down

Barclays Overweight Thermo Fisher Scientific (NYSE: TMO) price target cut from $64 to $58.

Barclays analyst says, "Moderating long-term sales outlook; EPS growth more resilient: In light of academic slowdown in Q3 and strong likelihood of weakness persisting in the near term, we expect initial FY12 organic sales growth guidance to come in below prior outlook of ~5% given at the analyst day. A low to mid single digit range, say 2-4%, appears to be reasonable at this point. That said, TMO remains focused on consistently delivering strong EPS growth, and we believe the company has a variety of operational levers to pull to meet mid-teens EPS growth expectations. We moderate our FY12 estimates (from $4.95 to $4.77)."

For more ratings news on Thermo Fisher Scientific click here and for the rating history of Thermo Fisher Scientific click here.

Shares of Thermo Fisher Scientific closed at $48.36 yesterday.

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